among 420 randomly selected employees at a company, the mean number of hours of overtime worked per month is…

among 420 randomly selected employees at a company, the mean number of hours of overtime worked per month is 10 hours and the standard deviation is 1.6. what is the margin of error, assuming a 99% confidence level?\n4.12\n0.01\n0.20\n20.5\ndone

among 420 randomly selected employees at a company, the mean number of hours of overtime worked per month is 10 hours and the standard deviation is 1.6. what is the margin of error, assuming a 99% confidence level?\n4.12\n0.01\n0.20\n20.5\ndone

Answer

Answer:

0.20

Explanation:

Step1: Identify the formula

Margin of error $E = z^*\frac{\sigma}{\sqrt{n}}$

Step2: Identify values

$z^* = 2.58$ (from 99% confidence - level), $\sigma=1.6$, $n = 420$

Step3: Calculate

$E=2.58\times\frac{1.6}{\sqrt{420}}\approx2.58\times\frac{1.6}{20.4939}\approx2.58\times0.0781\approx0.20$